Gabriel Budi Sutrisno · · 1 min readAjaib crypto arm removes Bitcoin transaction fees
Photo credit: Ajaib
The crypto arm of Indonesia-based investment unicorn Ajaib has cut out transaction fees for purchases and sales involving Bitcoin. It is the first crypto platform to do so in Indonesia.
This applies to all new and existing crypto customers on Ajaib. Previously, the company implemented a 0.1% transaction fee for every purchase and sale using any crypto asset, including Bitcoin.
The firm is among several stock and mutual fund investment platforms in Indonesia that have diversified into crypto. Ajaib said it has received a license from the Commodity Futures Trading Regulatory Agency, Indonesia’s crypto regulator, ever since launching its crypto business in 2022.
In November 2022, Ajaib laid off 8% of its workforce as a response to “uncertain macroeconomic conditions.”
Bitcoin’s market cap has exceeded US$500 billion as of Friday afternoon. It rallied over 24% in the previous seven days and over 50% in less than six months, Ajaib noted in a statement.
See also: Indonesia’s Robinhoods face biggest test as market slows: retaining users
Editing by Miguel Cordon and Lorenzo Kyle Subido
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